Medico Loans

Medical Professionals Home Loan Offer

Medico Loans

Medico Loans Medical Professionals Offer – LMI/LDP Waiver

(Note: To be eligible for Medico Loans you must meet the eligibility criteria.)

Medico is programs tailored for medical professionals, where the lenders waive the LMI requirement for qualified borrowers.

LMI is usually required by lenders when borrowers have a deposit of less than 20% of the property’s value. However, in Medico programs, the bank waives the LMI requirement, allowing qualified borrowers to purchase a home with a smaller deposit without having to pay LMI.

Medico Loans Features

Insurance Fee Waiver

One of the significant benefits of having a Medico is waiver of Lender’s Mortgage Insurance (LMI) and Low Deposit Premium (LDP). Typically, when borrowers have a loan-to-value ratio (LVR) above 80%, they need to pay LMI to protect the lender. However, under eligible medical professionals can have this fee waived, saving them potentially thousands of dollars.

Higher Lending Limits

Medico offers increased lending limits compared to standard home loans. Medical professionals can borrow up to a maximum aggregated lending amount of $7.5 million with the LMI & LDP waiver, or up to $5 million per customer without LMI/LDP.
Negotiate Low Mortgage Rate

We may be able to negotiate an even lower rate.

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Eligibility Criteria

Borrowers need to provide evidence of their professional status and registration. For non-veterinary professions, this typically involves verifying registration through the AHPRA website. For veterinary professions, relevant state registry websites or email correspondence with the veterinary board may be required.

To qualify for the medico, borrowers must be employed and working in Australia as one of the following:

What We Offer

Home Loan Solutions for Medical Professionals from Apt Mortgages

First Home Buyer Incentives

First Home Buyer Incentives

Unique programs to make homeownership more accessible.

Guidance for Melbourne's first-time buyers.

Options for the best home loans for doctors Australia.

Refinancing Options

Refinancing Options

Lower interest rates and potential savings.

Access funds for repairs, equity, or debt consolidation.

Comprehensive support through medico finance and medico policy.

Investment Property Loans

Investment Property Loans

Financing for multi-family homes, rental properties, or land.

Tailored investment options for Melbourne's real estate market.

Solutions include medico loans and medico home loans.

Home Loans for Healthcare Professionals

Home Loans for Healthcare Professionals

Special programs for home loans for health professionals.

Expert advice on home loan for healthcare workers Australia.

Benefits

Financial Savings

The waiver of LMI and LDP can result in significant financial savings for medical professionals, allowing them to secure a home loan with a lower deposit.

Higher Borrowing Capacity

With increased lending limits, medical professionals can potentially borrow more, enabling them to purchase higher-value properties or invest in multiple properties.

Medico Loans

This is a specialised home loan program tailored to meet the unique needs of medical professionals. By offering waived insurance fees and higher lending limits, it aims to support medical professionals in achieving their homeownership goals and building wealth through property investment.

Get a Free Consultation with No Obligation

Let’s discuss your financial objectives and explore the best Medico loan options for you. Apt Mortgages is committed to helping Melbourne’s healthcare professionals to reach their homeownership objectives. Get in touch with us right now!
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